2023 could be the year ATOM reaches its initial all-time high price!
- ATOM could move beyond the $20 mark in 2023.
- 2023 could be an uptrend for the token, resulting in a bullish boost.
- The token might move down to $13.5 for its yearly average.
Blockchain technology has been fascinating, especially for the unique concept that it introduces in the industry. However, like all the other technology around us, the Blockchain network is also limited by three primary factors: scalability, safety, and speed.
Keeping the industry’s interoperability in mind, Cosmos greeted the industry with a unique concept, an ecosystem of networks. Interestingly, this network wasn’t just any other attempt at reforming the crypto industry. Instead, it focused on creating a system allowing Blockchains to communicate among themselves.
Besides, the price movements of ATOM (the platform’s token) have been an area of interest for several traders and investors. Many suggest that ATOM could reach around $100 by 2027.
But does it has the required potential to reach such a price level? Let’s find out as we explore different aspects of the ATOM token in our price prediction blog.
About Cosmos: An Overview
Cosmos: The Concept
Cosmos is a crypto project redefining the previous Blockchain network lag. As per its whitepaper, the project is an ecosystem of networks that act as a bridge between two Blockchains. Once connected to the ecosystem, these networks can share, communicate and exchange data. This way, the project aims to facilitate better interoperability and greater scalability in the sector.
The network leverages a (Proof of Stake) PoS consensus protocol that allows the Cosmos (software development kit) SDK and Cosmos Hub to mainnet and develops customizable Blockchains called ‘Zones.’ Here, the primary chain, Cosmos Hub, facilitates the exchange of information and assets between different Zones, providing a shared level of security across the connected networks.
Additionally, each ‘Zone’ can authenticate transactions (if allowed), implement custom developments, and interact with other Zone present in the project’s ecosystem. Overall, you could imagine Cosmos as an interconnected internet of Blockchain.
As mentioned earlier, ATOM is the native token of this platform. The platform initiates movement in the ecosystem and secures the interchain services of the Hub. Additionally, the ATOM token can prevent spam or pay transaction fees over the network.
Now that we have an idea of the project’s concept. In the following section, let’s look at how the token has performed over the years.
ATOM Performance Over The Years: Quick Recap For 2019-22
Following a successful ICO, the ATOM token was initially listed on crypto exchanges on June 2019. However, unlike other tokens, ATOM could only make a major market movement in October 2020. Following a year into the industry, the token’s price fell from its initial range of $5.5 to the $4 range in November 2020.
Following this, there were a few revisions in the price of the token, but none of the movements was robust enough to allow ATOM to break its upper ceiling. However, ATOM could not make any significant changes to its price and ended the year around the same $5.5 range in which it was initially listed.
Enter 2021, a bullish market for the majority of the crypto projects in the industry. Interestingly, it was the same for the ATOM token as well. While the digital asset started its year around the $5.5 range, the following weeks helped it to push through its strong resistance line from 2020. By the end of January, the token registered an all-time high price range of $8.30.
Interestingly, this was just a start for the token (as evident from its future price prediction) as it made a breakthrough again on 17th February 2021, giving us an all-time high of 24.16. Thanks to the recent changes in the price movements, it was evident that the ATOM token was all set for a bearish run for the coming months.
It turned out to be accurate as the token continued its positive bullish run, increasing its price and reaching another new all-time high of $28.19 on 10th May. However, following months of bullish run, it was time for the bears to take over the market.
Following its last all-time high, ATOM had a great fall, subsiding around the $12 range in a few weeks. June was a month of corrections for the ATOM token. It not only showed random movements but also further dropped the price of the token below $9. Sadly, June ended up with the ATOM token being in a rangebound motion for the rest of the following month.
The past few months resulted in a lull in the ATOM token’s price movement. However, things changed as the token entered September, and the token registered a new all-time high of $43.31 by the end of the month. After that, but similar to its earlier price, ATOM entered a bearish phase, eventually slipping below the $30 range by the end of the year.
Enter 2022 and one of the harshest crypto winters that the industry has witnessed. However, for the first month, the ATOM token was resistant to the market movement, moving to $31 and later to its second all-time high range of $42 in the first three weeks of its performance.
But as mentioned earlier, the token soon aligned its movement as per the market emotions, and the negative sentiment affected the ATOM tokens’ price. As a result, the token systematically fell from its high price range of $30 to $10 in a few months between February and May. Sadly, the railing prices didn’t just stop here. The token went further below the $6 range in June 2022.
Following this, there were a few revisions as the token moved to $16 in September before ending the year around the $10 range.
What’s Up For 2023?
2023 could be a corrective phase for the ATOM token. However, considering that the token entered the year presenting an upward trend, we’re fairly positive about its future movements.
Unique Fundamentals Of The Cosmos (ATOM) Token
Similar to the other tokens present in the industry, unique features and functionality back the ATOM token. These aspects make it more than a mere investment. So before you invest in the token, considering its past price movements, let’s look at the unique fundamentals that define the token.
Continue reading as we simplify the unique features of the project and the token in the following section.
One of the most important characteristics of any Blockchain is security. With this in mind, Cosmos has created a novel idea dubbed “Interchain Security.” More than only staked ATOM tokens would be protected by this security feature on the network.
This functionality would allow validators to approve the so-called “child chains” with the ATOM tokens serving as the collateral on an opt-in basis. The prospect for passive income is increased by this feature as well since ATOM stakers receive additional incentives for securing kid chains.
Access To Staking
The Tendermint BFT consensus engine is used by Cosmos’ Hub staking module, just like every other Blockchain project that hopes to succeed. One of the most effective PoS solutions available today is this module.
That’s not all, though. By locking their ATOM tokens, users of the function may protect the created chain and save on transaction costs. Stakeholders also have the chance to earn an annual 9.7% APY.
One of the ATOM project’s most distinctive aspects is the Gravity DEX. Thanks to this innovative proposal, users can easily interchange various digital assets that arrive through the interchain.
Additionally, by merging several AMM elements, the Gravity DEX functionality is anticipated to enhance the current designs. An order book-based approach, for instance, might be used by users to conduct operations, making trading more effective.
One of the critical factors in the cross-chain Defi space needs to be liquid staking. The fluid staking mechanism is fundamentally a defense against staked ATOM. However, this functionality increases the limitations of the staking options offered via the platform.
Liquid staking allows you to access cumulative staking benefits, similar to staked ATOM tokens. However, it is ‘liquid,’ as opposed to ATOM staking, which denotes that the ATOM, in this instance, is transferrable.
Cosmos (ATOM) – BG’s Token Analysis
ATOM had an eventful 2023 so far. After falling from an all-time high around the $40 mark in 2022, the token has hit a lower price circuit, moving around the $20 range. However, considering the token’s price movement for the initial weeks of the new year, we see a positive uptrend in the price movement of the token.
Going by the analysis, it’s evident that ATOM had a support-resistance line around the $9.5-$10.5 zone. However, the token seems to have entered 2023 in an upward ascension, breaking through its initial resistance levels and moving above the $10 range.
However, while we’re primarily positive that the token will now use the $10 zone as its support zone, it can only be affirmed once it retests from its current level. Overall, things look optimistic for the token, and chances are that ATOM will be able to move above the $20 range for this year.
Cosmos (ATOM) Price Prediction – 2023-27
At the time of writing, Cosmos is among the top twenty crypto projects, roughly sitting at a market capitalization of $3.2 billion. The project has been a significant performer in the market since its listing and launch in 2019. However, even though we have factual data, it’s impossible to predict the future of the price of a token.
That said, before we look at the possible future predictions for the ATOM token, it should be understood that the digital asset has had a fluctuating run in the market. So, with that in mind, let’s look at the price prediction for the token in the next five years.
Cosmos Price Prediction 2023
The ATOM token showed a downtrend at its entry in 2023. Considering the analysis we did in the above section, we expect the token to take a hit from its current price range of $13.
As the token moves ahead, we expect ATOM to go down due to strong resistance at that level. Looking at past price movements, we expect ATOM to go down to $10 by the end of 2023. However, if the token can keep up with a positive approach and break through the strong resistance zone, it might end up around the $15 zone.
Cosmos Price Prediction 2024
For 2024, we expect ATOM to show a significant uptrend in its price movement. This year would mark half a decade of the token’s presence in the industry. Considering that the project would’ve completed all the milestones in its journey, we expect it to be another bullish year for the token.
So keeping an optimistic market approach in mind, we expect the ATOM token to reach price zones of $25. However, if the token cannot keep up with its bullish flow, it might average around $20 for the year.
Cosmos Price Prediction 2025
2025 could be an excellent year for the history of the ATOM token. By this year, we expect the platform to reach over 100 million subscribers, adding to its overall reach in terms of market size and customer base.
This increased user base could represent more transactions, and the demand is expected to increase with more ATOM tokens used in the process. So considering 2025 to be another year of bullish influence, we expect ATOM to reach around the $40 mark by this year.
Cosmos Price Prediction 2026
Following the bullish influence of 2025, 2026 could be a year of bearish influence for the ATOM token. For this year, ATOM might subside and go to its price range of 2024.
Keeping the trend in mind, we expect ATOM to have reached the $25 mark for this year. However, if the token can turn to a corrective phase, it might reach around the $30 range.
Cosmos Price Prediction 2027
2027 could be a corrective phase for the ATOM token. This year, we expect the project to innovate different aspects of its platform while making innovative business decisions for the ecosystems.
Looking at the possible indications, we expect ATOM to bounce back to $40 this year. Additionally, if the token bounces back, we can expect the token to reach around the $50 mark.
Note: The price range mentioned above is a mere prediction based on the past movements of the token. We suggest using these predictions as mere reference for your analysis and not considering them for financial planning.
ATOM’s Last Week Performance
2023 brings in good news for the ATOM token holders. Our analysis of the token’s movement from last week shows that the token has entered a corrective phase. Following almost months of bearish trend, 2023 could be the year the token enters a positive market.
Moving ahead, our analysis of the token suggests that we can expect positive movements from the token. However, since ATOM has been moving at an upward trend for some time now, the following weeks might see a fall in its price before it finally restest.
Overall, 2023 could be an optimistic year for the token holders.
What’s Up With Cosmos In Recent Times?
Cosmos has been a part of the crypto industry for over three years. Throughout these years, the project has taken up different initiatives to make the most of its operations by meeting various milestones in its roadmap and introducing new user features.
However, as of 2023, there’s no new update on the project. In addition, the platform is yet to make any special announcements about its update or collaborations. ATOM is currently operating at $13.17 but is expected to boom in the coming months.
Should You Consider Investing In Cosmos?
Before investing in a cryptocurrency project, you should thoroughly assess the risks involved. The same is true with ATOM because while the token has past history, it is comparatively new, and a lot about the network’s structure needs to be understood.
As a result, traders and investors must exercise due diligence before making any investment decisions. Therefore, even if TON is among the most significant digital assets to include in your portfolio, it is prudent to be aware of the dangers related to market volatility. All the best!